Global Agriculture
& Farm Equipment Market is foretold to
provide a robust support for industry players to lay a solid foundation for
their business growth. It includes a comprehensive evaluation of the industry
growth status and risk. In addition, it provides detail market variables,
trends, key opportunities, new entrants & competitors.
Agriculture & Farm
Equipment Market study offers detail overview of industry with all the
requisite data to support tactical business decisions and come up with
strategic growth plans. This study also proposes a comprehensive insight into
the development policies and plans in addition to manufacturing processes and
cost structures.
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Automotive and Transport
The global agricultural
equipment market was estimated at $124.2 billion in 2015. Agricultural
equipment or machinery are the tools used in various processes of farming, such
as planting, threshing, agriculture product processing, harvesting. New
agricultural equipment is replacing the traditional tools owing to improved
productivity and enhanced quality of the crop.
The need of food is growing
at a faster rate as the population is increasing, so the demand for new
agricultural equipment is growing to match the requirement of food.
Innovative technologies in
the agriculture are increasing the quality & production per square feet for
the agricultural products. Manufacturers are focusing on integrating various
new technologies such as robotic systems, Google Earth and GPS into existing
machinery for tracking productivity and improving it. The government also
encourages the use of farming equipment by proving subsidies and offering lower
rates to the farmers in emerging countries like India and China to adopt
agricultural equipment.
Equipment Market
On the basis of Product:
Tractors dominate the product category and is estimated to account over 20% of
total revenue in 2015 after harvesters. Tractors are the most efficient and
effective equipment in the agricultural sector as they can perform several
activities in the process of farming. Harvesters are expected to grow at a CAGR
of 5% through 2014-25.
Other product segment
includes thrasher, combine harvester, rotavator, Zero Till Seed Drill, Power
Tiller, Multi Crop Planter, Drip Irrigation, Sprinkler Irrigation, Power Weeder,
Power Spray.
On The basis of
Application: The products are divided as per the processes in farming such as
Sowing & Planting Equipment, Land Development/Seed Bed Preparation/Tillage
Equipment, Plant Protection Equipment, Water Inter Cultivation equipment, Agro
Processing and Harvesting & Threshing.
Threshing and Harvesting
expect the fast growth of a CAGR over 6% through the forecast period. Land
Development/Seed Bed Preparation/Tillage contributed over 15% of the global
revenue in 2015. Agriculture is labor intensive, and the scarcity of farm labor
will be the key fueling factor to the increasing demand for agricultural
equipment.
Regional Insights
North America Dominated the
Agriculture equipment market in 2015. The driving factors behind the most usage
of agriculture equipment are the scarcity of labor, improved features and fuel
efficiency of the machinery and demand for the food. However, North America and
Europe are expected to show moderate growth over the period. The Asia Pacific
region is projected to be fastest growing market during the forecasted period
owing to India and China are emerging as the fastest growing market. China
dominates the region by contributing over 20% of the regional revenue share in
2015. Developing countries are showing strong economic growth, such as India,
Middle Eastern countries and China, which will further fuel the growth of the
agricultural equipment industry.
Competitive Insights
The Agriculture machinery
market is highly fragmented and competitive due to the existence of prominent
players along with some other medium or small-scale participants. Key players
in the agriculture industry include Mitsubishi Agricultural Machinery Co. Ltd.,
AGCO Corp., Same Deutz-Fahr Group S.p.A. (SDF), Iseki & Co., Ltd., Kubota
Corporation, Deere & Company Mahindra & Mahindra Limited.
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